PUBLISHER: DataM Intelligence | PRODUCT CODE: 1272792
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1272792
Global Pet Probiotics Market - 2023-2030
Market Overview
The global pet probiotics market reached US$ 4,301 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 6,925.8 million by 2030. The market is growing at a CAGR of 7% during the forecast period (2023-2030).
The pet probiotics market is a growing sector within the pet industry. Pet probiotics are supplements that contain beneficial bacteria that can help to promote digestive health and boost the immune system in pets. The pet probiotics market is driven by increasing awareness among pet owners about the importance of maintaining good gut health for their pets. In addition, the use of probiotics as feed additives in animal production has increased significantly over the past ten years, particularly after the use of antibiotic growth promoters in the livestock industry was outlawed.
Market Dynamics
Increased Growth in the Consumption of Pet-based Products is Driving the Pet Probiotics Industry
Various changes have been witnessed regarding the consumption patterns and dietary habits of the population due to which there has been a shift towards the increased consumption of meat and dairy products. This has increased the demand for various animal products such as milk, dairy products, meat products, eggs, and other non-food items which have led to the growth in the usage of feed additives, thus boosting the probiotics in the animal feed market growth. Hence, the rapid increase in population growth has also increased the demand for food across the globe.
Lack of Awareness Among Pet Owners is Hampering the Pet Probiotics Market Growth
Lack of awareness among pet owners about the benefits of pet probiotics is one of the key factors restraining the growth of the pet probiotics market. According to a survey conducted by Packaged Facts, only 27% of pet owners are aware of probiotics for pets. Moreover, the same survey found that only 4% of pet owners regularly give their pets probiotics, indicating a significant gap between awareness and usage. This lack of awareness is a major barrier to the growth of the pet probiotics market, as many pet owners do not understand the potential benefits of these products for their pets.
COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Russia-Ukraine War Impact
The supply chain for pet probiotics may be affected by the continuing hostilities between Russia and Ukraine. Pet probiotic shortages and price rises may occur in some areas if there are problems with the shipping of raw materials or finished goods. Economic instability in the area is a result of the conflict between Russia and Ukraine. Pet owners might be less likely to buy luxury pet items like probiotics if the economy continues to deteriorate.
Artificial Intelligence (AI) Impact
AI might be used to analyze pet nutrition and health data to create more specialized and efficient pet probiotics. AI could assist manufacturers in creating goods that are more suited to the demands of particular breeds of pets by examining parameters like age, breed, and medical history. AI may be used to study consumer behavior and preferences to create more successful marketing campaigns.
Segment Analysis
The global pet probiotics market is segmented based on livestock, form, and region.
The Dry Segment Held the Highest Share in 2022
The dry segment dominated the market by form, with a share of 75% in 2022. The dry form of probiotics is mixed in the feed for animals including cattle, poultry, and swine. Also, the dry form of probiotics is generally available in a powdered form, as it is mixed with the feed. The American Pet Products Association (APPA) also reports that the pet healthcare market is growing at a faster rate than the overall pet industry, with spending on veterinary care and pet supplements expected to reach $32.3 billion in 2021, up from $27.3 billion in 2016.
Geographical Analysis
North America Held a Significant Share in the Pet Probiotics Market
North America held a share of 21% in the pet probiotics market in 2022, mainly due to the high pet ownership rate and the increasing demand for natural and organic pet products in the region. Moreover, the pet probiotics market in North America is also driven by the presence of key market players, such as Nestle Purina, Mars Inc., and Probiotics International Ltd. These companies are investing heavily in the research and development of new products and are launching innovative pet probiotics to cater to the increasing demand from pet owners.
Competitive Landscape
The major global players include Chr. Hansen, Kinglike DSM N.V., DowDuPont, Evonik Industries, Land O'Lakes, Lallemand, Bluestar Adisseo Co., Lesaffre, Alltech, and Novozymes.
Why Purchase the Report?
- To visualize the global pet probiotics market segmentation based on livestock and form and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of pet probiotics market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global pet probiotics market report would provide approximately 51 tables, 53 figures, and 200 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Livestock
- 3.2. Snippet by Form
- 3.3. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. PostCOVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Livestock
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Livestock
- 7.1.2. Market Attractiveness Index, By Livestock
- 7.2. Cattle*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Swine
- 7.4. Aquaculture
- 7.5. Pet
- 7.6. Equine
- 7.7. Others
8. By Form
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 8.1.2. Market Attractiveness Index, By Form
- 8.2. Dry*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Liquid
- 8.4. Capsules and Tablets
9. By Region
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
- 9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Livestock
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.2.5.1. The U.S.
- 9.2.5.2. Canada
- 9.2.5.3. Mexico
- 9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Livestock
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.3.5.1. Germany
- 9.3.5.2. The U.K.
- 9.3.5.3. France
- 9.3.5.4. Italy
- 9.3.5.5. Spain
- 9.3.5.6. Rest of Europe
- 9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Livestock
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.4.5.1. Brazil
- 9.4.5.2. Argentina
- 9.4.5.3. Rest of South America
- 9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Livestock
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.5.5.1. China
- 9.5.5.2. India
- 9.5.5.3. Japan
- 9.5.5.4. Australia
- 9.5.5.5. Rest of Asia-Pacific
- 9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Livestock
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
10. Competitive Landscape
- 10.1. Competitive Scenario
- 10.2. Market Positioning/Share Analysis
- 10.3. Mergers and Acquisitions Analysis
11. Company Profiles
- 11.1. Chr. Hansen*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Financial Overview
- 11.1.4. Key Developments
- 11.2. Kinglike DSM N.V.
- 11.3. DowDuPont
- 11.4. Evonik Industries
- 11.5. Land O'Lakes
- 11.6. Lallemand
- 11.7. Bluestar Adisseo Co.
- 11.8. Lesaffre
- 11.9. Alltech
- 11.10. Novozymes
LIST NOT EXHAUSTIVE
12. Appendix
- 12.1. About Us and Services
- 12.2. Contact Us
